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fsbo
Participant[quote=HLS]
You should also ask if they are getting ANYTHING back in commission/rebate from the lender.
If they hesitate or stumble in answering this simple question, they are probably lying to you, and not offering you the lowest rate that you qualify for at that time.
HLS[/quote][quote=FSBO]
Submitted by fsbo on January 6, 2009 – 9:45pm.
HLS,
No, there is no free loan. Every loan comes with costs. Closings costs, if not paid upfront, will be rolled over into the loan.
The similar is the mortgage broker’s non-published commission, it seems to be paid by lender, but
it actually sends the final rate higher….[/quote][quote=HLS]
Submitted by HLS on January 6, 2009 – 11:16pm.
FSBO,
There is no such thing as a “mortgage broker’s non published commission”
It doesn’t exist. What are you talking about ??HLS[/quote]HLS, Good question, and answer:)
ParticipantYou can call it differently, but you should know it better than anyone else, the commission difference between 4.625% and 5.00% this afternoon, for no point 30 years 417k loan, same closing cost….
ParticipantYou can call it differently, but you should know it better than anyone else, the commission difference between 4.625% and 5.00% this afternoon, for no point 30 years 417k loan, same closing cost….
ParticipantYou can call it differently, but you should know it better than anyone else, the commission difference between 4.625% and 5.00% this afternoon, for no point 30 years 417k loan, same closing cost….
ParticipantYou can call it differently, but you should know it better than anyone else, the commission difference between 4.625% and 5.00% this afternoon, for no point 30 years 417k loan, same closing cost….
ParticipantYou can call it differently, but you should know it better than anyone else, the commission difference between 4.625% and 5.00% this afternoon, for no point 30 years 417k loan, same closing cost….
ParticipantHLS,
No, there is no free loan. Every loan comes with costs. Closings costs, if not paid upfront, will be rolled over into the loan.
The similar is the mortgage broker’s non-published commission, it seems to be paid by lender, but
it actually sends the final rate higher.When adding more variables, such as, buying down points, it makes the loan price less comparable.
As for fsbo, I’d reserve 1% for MLS and ad cost, 2.5~3% for buyer/buyer agent, and leave the rest 1.5~1 % as additional incentive for buyer if the transaction could be closed quickly. it’s certainly not for everyone under every circumstance. As for buying, I’d look for professional RE service.
ParticipantHLS,
No, there is no free loan. Every loan comes with costs. Closings costs, if not paid upfront, will be rolled over into the loan.
The similar is the mortgage broker’s non-published commission, it seems to be paid by lender, but
it actually sends the final rate higher.When adding more variables, such as, buying down points, it makes the loan price less comparable.
As for fsbo, I’d reserve 1% for MLS and ad cost, 2.5~3% for buyer/buyer agent, and leave the rest 1.5~1 % as additional incentive for buyer if the transaction could be closed quickly. it’s certainly not for everyone under every circumstance. As for buying, I’d look for professional RE service.
ParticipantHLS,
No, there is no free loan. Every loan comes with costs. Closings costs, if not paid upfront, will be rolled over into the loan.
The similar is the mortgage broker’s non-published commission, it seems to be paid by lender, but
it actually sends the final rate higher.When adding more variables, such as, buying down points, it makes the loan price less comparable.
As for fsbo, I’d reserve 1% for MLS and ad cost, 2.5~3% for buyer/buyer agent, and leave the rest 1.5~1 % as additional incentive for buyer if the transaction could be closed quickly. it’s certainly not for everyone under every circumstance. As for buying, I’d look for professional RE service.
ParticipantHLS,
No, there is no free loan. Every loan comes with costs. Closings costs, if not paid upfront, will be rolled over into the loan.
The similar is the mortgage broker’s non-published commission, it seems to be paid by lender, but
it actually sends the final rate higher.When adding more variables, such as, buying down points, it makes the loan price less comparable.
As for fsbo, I’d reserve 1% for MLS and ad cost, 2.5~3% for buyer/buyer agent, and leave the rest 1.5~1 % as additional incentive for buyer if the transaction could be closed quickly. it’s certainly not for everyone under every circumstance. As for buying, I’d look for professional RE service.
ParticipantHLS,
No, there is no free loan. Every loan comes with costs. Closings costs, if not paid upfront, will be rolled over into the loan.
The similar is the mortgage broker’s non-published commission, it seems to be paid by lender, but
it actually sends the final rate higher.When adding more variables, such as, buying down points, it makes the loan price less comparable.
As for fsbo, I’d reserve 1% for MLS and ad cost, 2.5~3% for buyer/buyer agent, and leave the rest 1.5~1 % as additional incentive for buyer if the transaction could be closed quickly. it’s certainly not for everyone under every circumstance. As for buying, I’d look for professional RE service.
ParticipantHLS,
Do your lenders offer “free closing cost” re-fi option (with slightly higher rate)? If yes, it’ll make the decision much easier. As long as the “no-cost” rate is better than what I have now, there is no risk to take it – assuming no prepayment penalty in contract provisionParticipantHLS,
Do your lenders offer “free closing cost” re-fi option (with slightly higher rate)? If yes, it’ll make the decision much easier. As long as the “no-cost” rate is better than what I have now, there is no risk to take it – assuming no prepayment penalty in contract provisionParticipantHLS,
Do your lenders offer “free closing cost” re-fi option (with slightly higher rate)? If yes, it’ll make the decision much easier. As long as the “no-cost” rate is better than what I have now, there is no risk to take it – assuming no prepayment penalty in contract provision -
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